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McKinsey Partner: Thin Evidence Of Actcha Blockchain Uses
According to the article written and published by three of McKinsey's partners, "the evidence or indication of practical and scalable use cases for Blockchain technology is subtle on the ground. it did not become the kind of revolutionary solution that many expected that would have considered the amount of money and time invested in the project and only very little substance was achieved in over a decade since the technology was developed.
In addition, the post also notes that "the slow path that the development of Blockchain is taking is not entirely surprising because the technology is still at an early age and is relatively unstable, complex and expensive". The post goes to further explain to readers that based on life Motorcycle hypothesis, any evolution of the products can be effectively divided into four different stages: pioneering of the pioneering stage, growth stage, seasoning and decline phase.
Blockchain life cycle phases based on market size
When the pioneering phase begins, the technology will be at its starting point.
While for the second phase, we should expect the product to take off and see a certain level of success. However, following the authors' theory, "for many, [blockchain’s] phase 2 is not happening, "things may change differently." According to Occam's razor, we can deduce that the post ultimately indicates that the problem-solving principle implies that the simplest solutions typically tend to be the best of all, "then the Bockchain payment cases could actually be the wrong answer." However, McKinsey's thinking is that Blockchain technology has practical value in niche applications and modernization as a way to demonstrate the ability to be a highly innovative initiative.
In addition, the post also explains that the Blockchain initiative "brings benefits when it shifts ownership from companies to consumers". Bitcoin (BTC) has the potential to be a censor-resistant exchange medium As a previous Cointelegraph report, Time, the leading American newspaper, reported on the potential of Bitcoin (BTC) "to be a censor-resistant exchange medium. " In other news, the recently deceased co-founder of the activist movement Cypherpunk Tim May who is also the writer of the Crypto Anarchist The poster, it is said, would have declared that Satoshi Nakamoto, creator of BTC, would have been shocked by the current state of the digital goods industry .
